Novelis to acquire Aluminum producer Aleris for $2.6 billion
LONDON (Scrap Register): Aluminum rolled products manufacturer Novelis (Atlanta) has agreed to acquire Aleris Corp. (Cleveland), a producer of aluminum sheet and foil products, for about $2.6 billion.
The acquisition includes Aleris’ 13 manufacturing facilities in North America, Asia, and Europe. It also integrates the companies’ Asia operations, which include recycling, casting, rolling, and finishing facilities, said Novelis.
Over the past several years, Novelis has successfully brought online $2 billion in production assets by utilizing its best-in-class manufacturing expertise in rolling and finishing.
This proven track record of safely and efficiently ramping up assets along with our collective expertise will enable Novelis to enhance Aleris’ operations, while continuing to deliver innovative solutions that meet customers’ needs and drive shareholder value.
Novelis, a subsidiary of Aditya Birla Group’s (Mumbai) metals company Hindalco Industries, is a consumer of aluminum scrap, producing sheet, foil, rolled products for transportation, packaging, construction, industrial, and consumer electronics markets.